https://www.taxtmi.com/caselaws?id=468977 Reassessment under section 147 was upheld because survey material and the director's statement constituted tangible material capable of forming a reasonable belief that income had escaped assessment. The on-money addition from flat sales was set aside for fresh adjudication because the record did not conclusively establish the year in which the receipts arose, and the lower authorities had not examined the sale deeds or revenue recognition facts. The section 43CA addition was also restored for de novo verification, as the factual position on construction status and valuation mechanics required further examination. en-us Thu, 30 Nov 2023 00:00:00 +0530 Wed, 27 May 2026 15:27:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468977 Reassessment under section 147 was upheld because survey material and the director's statement constituted tangible material capable of forming a reasonable belief that income had escaped assessment. The on-money addition from flat sales was set aside for fresh adjudication because the record did not conclusively establish the year in which the receipts arose, and the lower authorities had not examined the sale deeds or revenue recognition facts. The section 43CA addition was also restored for de novo verification, as the factual position on construction status and valuation mechanics required further examination. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468977